Nice to Michu
20 Feb 2017
Re: At last ! For this share price to be only flat so far today is very unimpressive, imho. 80p gotreal would, in my mind, have a lot to do with how much of OPL310 Lek ends up with and on what terms. And the play out of this seems to be very tricky and drawn out.There is serious institutional involvement here and therefore this is not as volatile as many of its peers.. which means big spikes up - or down which is a good thing - seem less a factor here. And my instinct is that the institutional players have good inside track and so the s/p moves somewhat ahead of the RNS and when the RNS is released the info. is kinda in the price already. PS ; Johan, Lek were technical experts as well as bankrollers of this swampy - ie technically hard - project, so they clearly have some technical experts on their books already.. also the Afren tech experts need(ed) new jobs and so I don't see why Lek can't take a few onboard as needs be (indeed maybe the already have) ?
gotreal
20 Feb 2017
Re: At last ! It has indeed been a long time and the wait has raised a few concerns but it seems all of the dots have been joined, oil is flowing at a decent rate with the 10Kbpd target seeming achievable and a new CFO who understands the local market and has some pedigree:"Bruce served as the finance director of JKX Oil & Gas PLC, the London Stock Exchange listed exploration and production company with interests in Ukraine and central and eastern Europe for 14 years. Prior to this, he held various positions at Ernst & Young in the Wellington (New Zealand) and London offices. He holds a BSc Honours degree from Canterbury University (New Zealand), a Diploma in Accounting from Victoria University (New Zealand) and is a member of the Institute of Chartered Accountants of New Zealand."Steady upward price movement from here should be the result to retest the 80p-ish area last seen in 2014?
Nice to Michu
20 Feb 2017
At last ! The implementation project was a bit of a joke versus offered timeframes but they're there now at least... hopefully a good uptick in s/p today... I don't think it will be huge.. but maybe 30p is doable ..
Johandesilva
13 Feb 2017
Re: OPL310 Nice to MichuThink back to before Afren died and the deal on OPL310. Afren economic terms had been in disproportionally Afrens favour due to their expertise. How can LEK think they can get the same terms?
Nice to Michu
30 Jan 2017
Re: OPL310 what information has come to your attention Johan to lead you to say : ''As this drags on it is clear LEK can not acquire the remain assets on the same terms as Afren because Afrens interests are skewed in the favor of Afren due to the technical expertise they offer. ''(The dragging on could be for any one of a very wide variety of reasons?)
carliol
23 Jan 2017
OPEC & Russia Agree Oil Monitoring Mechanism At a meeting in Vienna yesterday, Saudi Arabia, Russia, Venezuela, Algeria, Oman, Qatar, and Kuwait agreed on a mechanism to monitor the rate of compliance with the crude oil production cut agreement sealed at the end of last year as an effort to rebalance the market.[link]
carliol
23 Jan 2017
Top Oil Companies On Acquisition Trail [link]
Johandesilva
17 Jan 2017
Re: OPL310 As this drags on it is clear LEK can not acquire the remain assets on the same terms as Afren because Afrens interests are skewed in the favor of Afren due to the technical expertise they offer.
Johandesilva
12 Dec 2016
Re: OPL310 Hi Nice to Michu,I can agree with your conclusion and the website gives misleading information.Materially OPL310 is a massive find and had LEK acquired the share the SP would have jumped.I believe (in conspiracies) this entire acquisition of assets and the downfall of Afren had been planned pre-IPO of LEK.
Nice to Michu
12 Dec 2016
Re: OPL310 So how wrong is the Lekoil website then Johan ? Very?The main visual under 'Our Assets' section says 70% economic Interest.. Very Wrong?Then the drill down into 'asset stage' says
escription/ Lekoil stakeOPL 310Lekoil Nigeria acquired 30% economic interestNon-operated stakeJust wrong instead of very wrong?Clearly with such inconsistencies the web site is not to be taken too seriously anyway.. but it's misleading nature should have it corrected asap.. lesst a case of misrepresentation be brought by some investor(s)?And (from the RNS link you post ):''LEKOIL is working with the regulatory agencies to clarify and amend the conditions stated in the consent letter to be in line with Nigerian law and further announcements will be made as and when appropriate. LEKOIL Limited holds 90% of the economic interests in its subsidiary, LEKOIL Nigeria Limited.''Could in my mind be interpreted in a multitude of ways.. eg Lekoil Nigeria has already acquired a 30% economic interest and so the above announcement is not legally binding and will be challenged in the courts and or via Ministerial Departments by Lekoil?
Johandesilva
09 Dec 2016
Re: OPL310 LEK has always had an 17.14% economic interest.LEK applied for Afren's 40% economic interest."Application for Ministerial Consent for this interest has been made and is pending."22 November 2016[link] lowest economic interest will be 57% but unfter consolidation this could be 70% according to RNS and no here knows how this works.There are going to be issues IMO. Afren only had a small participating interest because they had the expertise on offer and LEK dont so i dont know how this is going to work out
Contrariwise
09 Dec 2016
Re: OPL310 Nice to Michu, ha ha, likewise this position is a bit of a speccy punt for me. Up and waiting to see what happens, but without much enthusiasm. Seems cheap, but then so did Asian Citrus and Quindell.............
Nice to Michu
09 Dec 2016
Re: OPL310 While I'd love to be able to, alas I can't help you Contrawise... apart from : Welcome to Nigeria and have a nice day.Semi blind faith is my strategy here. And I see this as a bet and not an Investment and so am of the understanding that I could lose a fair amount readily.. but I'm decently up already and have stops and so it wont be a very bad outcome whatever.
Contrariwise
09 Dec 2016
OPL310 As a new shareholder please can someone enlighten me as to what the controversy is surrounding the OPL310 concession? According to the September presentation Lekoil have a 70% stake in the field, what does the 17% ministerial approval mean?
Johandesilva
09 Dec 2016
Re: Lekoil confirms oil flow from Otakik... I think the last placement was really substantial and so significant.I only have a mild interest in this stock as I followed it from IPO while being in Afren.
